After their disappointed results on the second and third quarter of GDP growth results; seems that Mr. Jim O’Neill the Chairman of Goldman Sachs Asset Management, and the creator of the “BRIC” economic block is disappointed as well.

A new block called “MIST” stands for Mexico, Indonesia, South Korea and Turkey, could attract the investors attention and appetite over the strong “promised” globally economic Leaders Brazil, Russia, India and China.

MIST Economies

In a post on baguete by Maurício Renner, the Brazilian editor wrote [pt]:

BRICs gone: Meet the MIST.
Mexico and Indonesia, for example, grew by respectively 4.1% and 6.4% in the second quarter of this year compared to the same period in 2011 – against 0.8% in Brazil – at a time of global slowdown.

Acronyms have long been a favourite of policy wonks and policymakers, shorthand for describing the world and the changes taking place in it. Jim O’Neill, the Goldman Sachs economist who came up with the now-mainstream “BRIC” catch-all for four quite different economies – Brazil, Russia, India and China – has done it again.

Besides South Korea don’t all these countries carry the same vices most of the Brics hold (like a huge state, high levels of corruption, underinvestment and/or not effectively investing on Education, and too much protectionism)? With the exception being perhaps that they aren’t so bad when it comes to protectionism. Anyway, given all these variables won’t this current growth spurt eventually end and find them facing the same problems Brazil is experiencing now?

Thanks for passing by my Blog. Yes you have said the truth, according to economic monitors, BRICs had their chance to boost a great pole of political/economical during the last decade, but so far they failed. Even the Bank that they talked about is still on papers. Kindly refer to my another post “Broken BRICs”, https://ramialhames.wordpress.com/2012/11/08/broken-brics/. Thanks Again